Xin Lang Cai Jing·2026-02-26 10:21Core Viewpoint - The announcement details the agreement between Cheung Kong Holdings and Cheung Kong Infrastructure to sell 100% of UK Power Networks to a buyer affiliated with French energy company Engie, along with related shareholder debt notes [3][7]. Group 1: Transaction Details - The transaction price for UK Power Networks is determined based on the shareholding proportions of the three selling parties: Cheung Kong Infrastructure and Power Assets Holdings each hold 40% of the shares, priced at £4.2192 billion (approximately HK$44.3 billion) each; Cheung Kong Holdings holds 20% of the shares, priced at £2.1096 billion (approximately HK$22.15 billion) [3][7]. - The total transaction value amounts to approximately £10.548 billion (equivalent to HK$110.75 billion) [3][7]. Group 2: Company Background - UK Power Networks is a leading electricity distribution company in the UK, operating over 192,000 kilometers of power lines and serving 8.5 million households and businesses [3][7]. - The company is expected to see significant profit growth in the fiscal year 2025, and Cheung Kong Infrastructure has been investing in this asset since 2010 [3][7]. Group 3: Conditions and Timeline - The transaction is subject to several conditions, including approval from the shareholders of the four selling parties, clearance from the UK national security review, and recognition from the Guernsey financial regulatory authority [3][7]. - The final deadline for meeting these conditions is set for June 30, 2026; failure to meet these conditions may result in the termination of the transaction [3][7]. Group 4: Market Reaction - Following the announcement, Cheung Kong Holdings (0001.HK) saw a share price increase of 3.47%, reaching HK$64.15; Cheung Kong Infrastructure Group (1038.HK) rose by 5.77%, and Power Assets Holdings (0006.HK) increased by 5.38% [4][8].